CBSE Class 11 Accountancy

Sample Paper 1 - Questions

For CBSE Examination March 20XX

Time allowed: 3 hours

Maximum Marks: 90

General Instructions:

i. This question paper contains two parts A & B. Both the parts are compulsory for all.

ii. All parts of the questions should be attempted in one place.

iii. Part A contains 16 Questions of which. Question 1 to 4 carry 1 mark each. Question 5
to 9 are carry 3 marks each. Question 10 and 13 carry 4 marks each. Question 14 to 15
carry 6 marks each. Question 16 carry 8 marks each.

iv. Part B 17 to 24 questions of which. Question 17 and 18 carry 1 mark each. Question 19
carry 3 marks each. Question 20 carry 4 marks each. Question 21 to 23 are carry
6 marks each. Question 24 carry 8 marks each. All parts of a question should be
attempted at one place

Part – A
Financial Account - I

Q1. Explain any two characteristics of accounting.

Q2. Is ‘cash memo’ a source document or an accounting voucher?
Q3. Which column of the journal records the page number of the ledger book on which the relevant
account appears?
Q4. What does the debit balance in passbook indicate?
Q5. State any three essential features of bills of exchange?
Q6. The cost of machinery is Rs. 7,80,000 with salvage value Rs. 30,000. What is the depreciation
amount for the 2nd year as per the WDV method? Charge depreciation @10% per annum.
Q7. During the financial year, Jigyasa had cash sales of Rs. 13,00,000 and credit sales of Rs. 2,00,000.
Expenses incurred for the year were Rs. 8,20,000 out of which Rs. 80,000 are still to be paid.
Find out Jigyasa’s income if she follows :
i. Cash Basis of Accounting
ii. Accrual Basis of Accounting

Q8. State whether the balance of the following accounts should be placed in the debit or the credit
columns of the trial balance.
i. Cash Balance
ii. Discount received
 iii. Purchases
iv. Interest paid
v. Bad debts
vi. Return outwards

Q9. Is it correct that the total of sales book is posted to the credit side of the sales account in the general
ledger and individual accounts of customers are debited by the respective amount?

Q10. On 1 March 2019, Ritwik sold goods for Rs. 14,800 to Rehan on credit. Rehan accepted a bill of
exchange drawn upon him by Ritwik payable after three months. On the 25th of April, Ritwik endorsed
the bill in favor of his creditor Rahul in full settlement of her debt of Rs. 15,900. On May 28, Rahul
discounted the bill with his bank @ 18% p.a. On the due date, Rehan met the bill. Record the necessary
journal entries in the books of Ritwik.

Q11. Complete the following journal entries of Sumit & Sons.

Date Particulars L.F. Debit Credit

1 ____________ A/c Dr. 17,000

To Cash A/c 17,000
(Being the withdrawal of cash from the
business for personal use)

2 ____________ A/c Dr. 1,35,000

To ____________ A/c _______
To ____________ A/c _______
(Being the goods bought on cash of
Rs.70,000 and as well as on credit)

3 ___________ A/c Dr. _______

To _________ A/c _______
(Being the outstanding wages of Rs.14,400)

4 __________ A/c Dr. _______

__________ A/c Dr. 500
To ___________ A/c _______
(Being the cheque received of Rs.20,500
form Rohan & Co. for final settlement and
deposited same day into bank)

Q12. Prepare a Bank Reconciliation Statement on 30 November 2019 for the following particulars:
 Particulars Amount (Rs.)

Balance as per cash book 32,000

Cheque issued but not presented for payment 7,400
Cheque deposited but not yet cleared 8,200
Insurance Premium paid by the bank 1,900
Interest credited by the bank 800

Q13. Enter the following transactions of M/s. Varun Bros. in the purchase book for the month of August
2018:
Date Details

2018 Purchase on credit from M/s. Saanvi Infotech:

August 04 100 computers @ Rs.5,000 each
50 Pen drive @ Rs.400 each

August 08 Purchase on cash from M/s. Bombay Infotech:

125 Hard Disk @ Rs.400 each
100 Motherboard @ Rs.800

August 12 Purchase on credit from Tech Yuva :

50 CPU @ Rs.4,000 each
120 RAM @ Rs.2,200 each

August 28 Purchase on credit from Arrow Tech:

175 RAM @ Rs.100 each
200 Video Card @ Rs.80 each

Q14. On April 1, 2019, Suman & Bros. Cash Book showed debit balances of Cash Rs.10,000 and Bank
Rs.18,800. During the month of April following business was transacted. You are required to prepare
Cash Book?

April 2019
02 Cash sales of Rs.17,500

08 Purchase Computer and Printer of Rs.14,870

10 Received from Jyotica a cheque of Rs.7,850 in part payment of his account.

(But not deposited into the bank account).

13 Paid by cheque for furniture purchased worth of Rs.6,600.

14 Deposited into Bank the cheque received from Jyotica.

17 Goods purchase of Rs.20,500 from Manisha and only 40% paid in cash.
 19 Sold goods to Siddharth Bros. for Rs 3,500 who paid by cheque which was
deposited into the bank on the same day.

23 Paid insurance Premium by cash Rs.1,500 and wages Rs. 1,900 by Cheque.

29 Drew from Bank for Office use of Rs.1,125 and for the personal use of Rs.
1,750.

30 Machinery Purchased from Raman of Rs.52,000.

Q15. M/s Govind & Sons showing the following transactions. Prepare accounting equation for the
same:
i. Commenced business with cash.............................. Rs.4,00,000.
ii. Purchased goods for cash.......................................Rs.50,000.
iii. Purchased machinery on credit................................ Rs.1,75,000.
iv. Purchased old car for personal use for ...................Rs.90,000.
v. Sold goods for cash……………………..Rs. 40,000
vi. Proprietor withdraws cash from the business for personal use…………. Rs. 15,0000.

Q16. An asset was purchased for Rs. 12,500 on 1st April, 2011. The scrap value was estimated
be Rs. 500 at the end of the asset’s 12 years’ life. The accounting year ends on March 31
every year. The asset was sold for Rs. 8,000 on March 31, 2015.Calculate the following
using the straight-line method of depreciation:
● The depreciation expense for the year ended March 31, 2012.
● The netbook of the asset on March 31, 2014.
● The gain or loss on the sale of the asset on March 31, 2015.
Q17. Define a computerized accounting system.
Q18. 18. From the following information given below, prepare a statement of profit or loss:
Closing capital - Rs. 90,000
Drawings - Rs. 8,000
Capital introduced during the year - Rs. 15,000
Opening capital - Rs. 50,000
Q19. Calculate the amount of gross profit from the following data :
Sales - Rs. 2,00,000
Closing stock - Rs. 30,000
Opening stock - Rs. 15,000
Goods purchased - Rs. 1,50,000
Freight and packing charges - Rs. 10,000
Packing expense on sales - Rs. 6,000
Q20. What do you mean by ‘Ready-to-use’ accounting package?
Q21. From the following details given below, find out the credit sales and total sales.

Particulars Amount
 Opening debtors 55,000
Discount allowed 5,000
Closing debtors 67,000
Sales returns 9,300
Bad debts 5,200
Bills receivables received 12,000
Bills receivable dishonored 3,500
Cheque dishonored 7,700
Cheque received from debtors 25,000
Cash received from debtors 2,50,000
Cash sales 80,000

Q22. From the following information given below, prepare a trial balance, trading and profit, and loss
account for the year and balance sheet as on March 31, 2019:

Accounts Title Amount

Capital 2,00,000
Drawings 5,000
Machinery 80,000
Sales 2,00,000
Purchases 3,30,000
Sales return 13,000
Purchases return 50,000
Wages 10,000
Salary 25,000
Depreciation 10,000
Goodwill 50,000
Interest received 15,000
Discount allowed 2,000
Bank overdraft 20,000
Bank loan 1,00,000
Debtors 78,000
Creditors 93,000
Cash 40,000
Stock on April 01, 2018 35,000

Stock of goods on March 31, 2019 was valued at Rs. 1,75,000

Q23. Prepare Trading and Profit and Loss Account and Balance Sheet for the 31st March, 2019
of RK Marbles from the following information:

Debit Balances Amount Credit Balances Amount

Opening Stock 24,000 Sales 3,25,000

 Purchases 1,60,000 Reserves 55,000
Carriage Inwards 16,000 Loan 20,000
Carriage Outwards 20,000 Discount Received 4,000
Wages 22,000 Sundry Creditors 1,08,000
Printing and Stationary 18,000 Capital 292,500
Sundry debtors 80,000
Furniture and Fixtures 1,20,000
Investments 30,000
Freehold Premises 1,00,000
Traveling Expenses 15,000
Office Expenses 25,500
Interest paid on Loan 2,000
Bills Receivable 28,000
Legal Charges 5,000
Plant and Machinery 78,000
Tools 65,000

Depreciate Furniture and Fixtures @5%, Plant and Machinery @10%, Tools @ 15%. Stock
on 31st March, 2019 was Rs. 88,000.

Q24. Vijay commenced business as foodgrain merchant on 1st April,2017 with a capital of Rs.
40,000.
the same day he purchases furniture of Rs. 80,000. From the following particulars obtained from
his books which do not conform to double entry principles, you are required to prepare the
Trading and Profit and Loss Account for the year ended 31st March, 2018 and the Balance Sheet
as on that date.

Particulars Amount

Sales (including cash sales of Rs. 2,00,000) 5,00,000

Purchases (including cash purchases of Rs. 1,20,000) 4,00,000
Vijay’s drawings (in cash) 40,000
Salaries to staff 48,000
Bad Debts written off 4,000
Trade expenses paid 16,000
Vijay used goods of Rs 12,000 for private purposes during the year. On 31st March, 2018, his
debtors amounted to Rs. 1,40,000 and creditors Rs. 80,000. Stock-in-trade on that date was Rs.
1,60,000.